Dark Forest Capital Management LP bought a new position in Ares Capital Co. (NASDAQ:ARCC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,804 shares of the investment management company's stock, valued at approximately $455,000.
Other large investors have also made changes to their positions in the company. Sculati Wealth Management LLC boosted its stake in shares of Ares Capital by 1.0% during the 3rd quarter. Sculati Wealth Management LLC now owns 115,744 shares of the investment management company's stock valued at $2,410,000 after buying an additional 1,149 shares during the period. World Investment Advisors LLC acquired a new position in Ares Capital in the 3rd quarter worth about $252,000. Sfmg LLC raised its stake in shares of Ares Capital by 4.3% during the 3rd quarter. Sfmg LLC now owns 439,503 shares of the investment management company's stock worth $9,203,000 after purchasing an additional 18,056 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Ares Capital by 382.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 61,609 shares of the investment management company's stock valued at $1,290,000 after buying an additional 48,848 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in Ares Capital by 6.2% in the third quarter. Tidal Investments LLC now owns 63,385 shares of the investment management company's stock worth $1,327,000 after buying an additional 3,726 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.
Ares Capital Stock Performance
NASDAQ ARCC traded up $0.14 during trading on Monday, hitting $21.25. The company's stock had a trading volume of 4,628,100 shares, compared to its average volume of 4,092,672. Ares Capital Co. has a 52 week low of $18.26 and a 52 week high of $23.84. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The firm has a market cap of $14.55 billion, a P/E ratio of 8.67 and a beta of 0.77. The firm has a 50 day moving average price of $21.60 and a 200 day moving average price of $21.95.
Ares Capital (NASDAQ:ARCC - Get Free Report) last released its earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Equities research analysts forecast that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.
Ares Capital Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 9.04%. Ares Capital's dividend payout ratio is 78.37%.
Wall Street Analyst Weigh In
Several analysts have commented on ARCC shares. Keefe, Bruyette & Woods decreased their target price on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada increased their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reduced their price target on Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price objective on Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Raymond James lowered Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.22.
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About Ares Capital
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Free Report)
Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.
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